ITOCHU Announces Capital Participation in NALNET Communications

August 31, 2023

ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Keita Ishii, President & COO; hereinafter “ITOCHU”) has agreed to establish Mobility & Maintenance Japan Co., Ltd. in partnership with ITOCHU ENEX CO., LTD. (headquartered in Chiyoda-ku, Tokyo; Tomofumi Yoshida, Representative Director, President and CEO; hereinafter “ITOCHU ENEX”), and acquire an equity stake in NALNET Communications (headquartered in Kasugai City, Aichi; Takashi Suzuki, Representative Director, President and CEO; hereinafter “NALNET Communications” ) from two funds* managed and operated by JAFCO Group Co., Ltd. (headquartered in Minato-ku, Tokyo; Keisuke Miyoshi, Representative Director, President and CEO; hereinafter “JAFCO Group”)

NALNET Communications provides vehicle maintenance management services for car leasing companies. With alliances of 11,500 auto-repair shops nationwide, NALNET Communications efficiently manages fleet maintenance data, and offers a range of services including proper vehicle maintenance management, vehicle residual value guarantees, proposal of personal lease products, and maintenance package sales and lease-up vehicle purchases at appropriate price.

In recent times, as electrification and e-commerce advance, services related to the movement of people and goods are diversifying, the supporting systems for the transportation are also getting complicated. Under such circumstance, ITOCHU will form a strategic partnership with NALNET Communications, one of the leading players in the vehicle maintenance management market. ITOCHU aims to develop a business framework to deal with the changing and diverse automotive maintenance demands and to focus on expanding business related to the automotive aftermarket.

ITOCHU has been involved in automotive businesses, ranging from tire wholesale, retail and recycling, to automotive maintenance mainly in the UK. ITOCHU ENEX has also been involved in various automotive businesses including the gas station business, the car dealership business and the auto auction business. Going forward, The ITOCHU Group aims to leverage the expertise it has cultivated over the years to realize synergy and to enhance the corporate value of NALNET Communications.

  • *JAFCO SV6 Investment Limited Partnership and JAFCO SV6-S Investment Limited Partnership (hereinafter “JAFCO Funds”)

Company profiles

Profile of MMJ

Company name Mobility & Maintenance Japan Co., Ltd.
Headquarters Minato-ku, Tokyo
Established August 2023
Shareholder Composition ITOCHU 51%, ITOCHU ENEX 49%
Business Stock holding, selling and purchasing and other investments related to the automotive aftermarket business

Profile of NALNET Communications

Company name NALNET Communications
Headquarters Kasugai City, Aichi
Established July 18, 2019 (former corporation established in 1978 was integrated into current corporation in 2022)
Shareholder Composition JAFCO Group Co., Ltd., Mobility & Maintenance Japan Co., Ltd.
Business Automotive maintenance management, automotive leasing, residual value guarantees, vehicle purchases

Profile of JAFCO Group

Company name JAFCO Group Co., Ltd.
Headquarters Toranomon Hills Mori Tower 24F, 1-23-1 Toranomon, Minato-ku, Tokyo
Established April 5, 1973
Stock listing Tokyo Stock Exchange, Prime Market
Business Venture investment and buyout investment business through fund management

Profile of ITOCHU ENEX

Company name ITOCHU ENEX CO., LTD.
Headquarters Kasumigaseki Building 27F~29F, 3-2-5, Kasumigaseki, Chiyoda-ku, Tokyo
Established January 28, 1961
Stock listing Tokyo Stock Exchange, Prime Market
Business Petroleum products, LP gas sales business, electric power business,
automotive business and other related businesses